CA Pratibha Goyal | Apr 6, 2020 |
ITC Restrictions deferred & GST Compliances relaxed by CBIC due to COVID-19
The Article dicusses various compliances that have been deffered due to COVID-19.
Condition under rule 36(4) relaxed
Condition under rule 36(4) prescribes the restriction for availment of Input Tax Credit i.e. 10% of the eligible credit in respect of invoices or debit notes the details of which have not been uploaded by the suppliers under sub-section (1) of section 37 of the CGST Act, 2017.
In Terms of Notification No. 30/2020, a proviso has been inserted in CGST Rules 2017 to provide that the condition as stated in Rule 36(4) of the CGST Rules, 2017 will be deffered. The condition shall not apply to ITC availed by the Taxpayer in FORM GSTR-3B for the months of Feb 2020 to Aug, 2020. Further the said condition shall apply cumulatively for the said period in the return in FORM GSTR-3B for the tax period of Sep, 2020. GSTR-3B Return of Sep 2020 shall be furnished with cumulative adjustment of ITC.
[Notification No. 30/2020 – Central Tax dated 3 April, 2020]
ITC Restrictions deferred & GST Compliances relaxed by CBIC
Due Date for filing Form GSTR-1 for the Taxpayers having Aggregate Turnover of More Than Rs. 5 Cr
| MONTH | RETURN | DUE DATE | COMPLIANCE DATE | INTEREST | LATE FEES |
| Mar-20 | GSTR 1 | 11/04/2020 | 30/06/2020 | Not Applicable | NIL |
| Apr-20 | GSTR 1 | 11/05/2020 | 30/06/2020 | Not Applicable | NIL |
| May-20 | GSTR 1 | 11/06/2020 | 30/06/2020 | Not Applicable | NIL |
Due Date for filing Form GSTR-1 for the Taxpayers having Aggregate Turnover up to Rs. 5 Cr
| MONTH | RETURN | DUE DATE | COMPLIANCE DATE | INTEREST | LATE FEES |
| JAN-MAR 2020 | GSTR 1 | 30/04/2020 | 30/06/2020 | Not Applicable | NIL |
[Notification No. 33/2020 – Central Tax dated 3 April, 2020]
Due Date for filing Form CMP-08 i.e. Statement for payment of self-assessed tax by the Composition Dealer
| MONTH | RETURN | DUE DATE | COMPLIANCE DATE | INTEREST | LATE FEES |
| JAN-MAR 2020 | CMP-08 | 18/04/2020 | 07/07/2020 | NIL | Not Applicable |
Due Date for filing Form GSTR- 04 i.e. Quarterly return for registered person opting for composition levy, by the Composition Dealer
| MONTH | RETURN | DUE DATE | COMPLIANCE DATE | INTEREST | LATE FEES |
| JAN-MAR 2020 | GSTR-4 | 13/04/2020 | 15/07/2020 | Not Applicable | NIL |
[Notification No. 34/2020 – Central Tax dated 3 April, 2020]
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